Piper Jaffray Cos. downgraded Ferrellgas Partners, L.P. (NYSE:FGP) to Underweight in a report released today.
- Updated: October 2, 2016
Piper Jaffray Cos. has downgraded Ferrellgas Partners, L.P. (NYSE:FGP) to Underweight in a report released on Wednesday September 28, 2016.
Yesterday Ferrellgas Partners, L.P. (NYSE:FGP) traded -1.10% lower at $12.90. The company’s 50-day moving average is $18.30 and its 200-day moving average is $18.47. The last stock close price is down -36.97% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 2,158,074 shares of the stock were exchanged, up from an average trading volume of 410,972
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Ferrellgas Partners, L.P. has a 52 week low of $11.27 and a 52 week high of $21.22 The company’s market cap is currently $0.
A total of 6 analysts have released a research note on FGP. zero analysts rating the company a strong buy, zero analysts rating the company a buy, five analysts rating the company a hold, two analysts rating the company a underperform, and finally zero analysts rating the company a sell with a one year target of $16.25.
More About Ferrellgas Partners, L.P. (NYSE:FGP)
Ferrellgas Partners, L.P. is engaged in the retail distribution of propane and related equipment sales, and midstream operations, which include crude oil logistics segment and water solutions segment. The Company's two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership. Its assets are its approximate 99% limited partnership interest in the operating partnership and its 100% equity interest in Ferrellgas Partners Finance Corp. Its general partner performs all management functions for the Company and holds a 1% general partner interest in Ferrellgas Partners and has an approximate 1% general partner interest in the operating partnership. It distributes propane and related equipment and supplies to customers in the United States. The Company operates in three segments: propane and related equipment sales, midstream operations – water solutions and midstream operations – crude oil logistics.
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